The Administration Thread

[MaltRam]

15 minutes ago, europia said:

It looks fairly certain that we will still be in administration by the time the new season begins. There isn't anywhere near enough time to get a deal done...

Is that true? A deal was agreed with the septic tank, and if someone was to come along and agree to those exact terms with the cash in one hand and a pen in the other? Surely EFL could get their fit and proper person test done in an afternoon, so long as someone brings £1000 in an envelope? Sorry, I mean fills in the correct forms?

Why can't Morgan rock up tomorrow, get all agreed, get the forms printed and have it wrapped by the time the fixtures are out?

Edited June 15, 2022 by Needlesh

[kevinhectoring]

16 minutes ago, europia said:

It looks fairly certain that we will still be in administration by the time the new season begins. There isn't anywhere near enough time to get a deal done, even if Quantuma were a competent (they've proven otherwise) administrator. Our problem is going to be the likelihood of not being able to fulfil fixtures. Further penalties would follow. 

You’re right, timing is so tight. But I think the various deadlines (June wages, EFl fixture lists) will force a deal in time. But who knows if we will suffer further points deductions ... 

[RadioactiveWaste]

4 minutes ago, Needlesh said:

Is that true? A deal was agreed with the septic tank, and if someone was to come along and agree to those exact terms with the cash in one hand and a pen in the other? Surely EFL could get their fit and proper person test done in an afternoon, so long as someone brings £1000 in an envelope? Sorry, I mean fills in the correct forms?

Why can't Morgan rock up tomorrow, get all agreed, get the forms printed and have it wrapped by the time the fixtures are out?

Given Erik Alonso's american cousin had no real intention of actually paying for the club, would you sign up to the agreements he made without having go over them very carefully at the very least? Even if you were happy with the price, you'd want your legal guys to check the Ts n Cs and so on.

[Caerphilly Ram]

26 minutes ago, europia said:

It looks fairly certain that we will still be in administration by the time the new season begins. There isn't anywhere near enough time to get a deal done, even if Quantuma were a competent (they've proven otherwise) administrator. Our problem is going to be the likelihood of not being able to fulfil fixtures. Further penalties would follow. 

The retained list that’s on the EFL website and on another thread on this forum suggests we could just about put a side out when the season starts in 6 weeks. They may have to wear last year’s kit or the training kit and there may be some youths on the bench, but we could possibly start the season.

If Rosenior goes there’ll likely be some sort of compensation for that. Quantuma probably need to be negotiating the takeover on the one hand and potentially look at selling one of Knight, Buchanan or Bielik with the other to provide some funds for the season. It weakens the squad further but would guarantee the clubs survival until a takeover is finalised. The EFL in their new found apparent desperation to keep the club alive (sceptical hat on now) may even let us add a couple of bodies to the side should funds be raised and evidenced.

[Elwood P Dowd]

15 minutes ago, RadioactiveWaste said:

Given Erik Alonso's american cousin had no real intention of actually paying for the club, would you sign up to the agreements he made without having go over them very carefully at the very least? Even if you were happy with the price, you'd want your legal guys to check the Ts n Cs and so on.

I would imagine that most areas of contention and concern have been covered in the 3 previous contracts it should just be a task to use what had already been agreed as basis for a 4th contact. The contract will be new to the buyers legal team so they will want their own drafting and figures in some areas however, amending a contract that has most of the boiler plate already completed should be quicker than starting anew. 

Edited June 15, 2022 by Elwood P Dowd

[Dean (hick) Saunders]

Won’t we need to sell some bleeping season tickets to have some bleeping funds for next bleeping season.

#ItsTheBleepThatKillsYa

[Ghost of Clough]

4 hours ago, Charlotte Ram said:

I have to disagree with you on the revenue for DCFC in League 1, no way will we generate £20 odd million in revenue

here is my forecast

season tickets and gate receipts £7 million

TV money £2.8 million

Commercial activities £5 million

Total £14.8 million plus player sales

It is a dark dark depressing world in league 1

Pretty much what I'd expect for gate receipts and TV money, unless we have a cup run or playoffs. But only £5m for other income, down from over £12m in 17/18? I expect an extra £3m on top of your estimate.

4 hours ago, PistoldPete said:

How does that compare with Sunderland? 

Sunderland average about £10 per match ticket vs our £15. £4m of income which isn't match receipts or TV. £1.1m of that is sponsorship, a level we havent been at since the Phil Brown days. This is an area Sunderland have always been very poor at. Two important fa tors to remember: 1) some sponsorship deals will run over from our time in the Championship, 2) Rooney

3 hours ago, jono said:

Indeed it is ( I suppose I was thinking Championship income ) but the key is wages for players .. everything is possible if those remain sensible. What’s your take on that ? Do you think the market has gained a sense of reality yet ? 
 

40 players at circa 4 grand a week = a wage bill over 8 million .. so you have 6 million or so  left to run the club including leasing the stadium, paying the ordinary staff, buying players, paying the the directors and then all the boring stuff like energy and maintenance.  I can’t see profit for anyone unless total player wage costs are below 50% of revenue. .. So for sustainability of teams (not just DCFC ) that has to be where it is. But will it ever happen ? If it doesn’t there will be more failures … unless rich men have vanity projects 

Why the fudge are you suggesting we'll have 40 players on £4k a week? We probably won't even have 11 players on that this season. 40 players on professional contracts seems extremely unrealistic as things stand.

[MaltRam]

29 minutes ago, RadioactiveWaste said:

Given Erik Alonso's american cousin had no real intention of actually paying for the club, would you sign up to the agreements he made without having go over them very carefully at the very least? Even if you were happy with the price, you'd want your legal guys to check the Ts n Cs and so on.

No, you're right of course.

However, the deal can't have too many murky corners and unknowns. Especially to guys who were in the running earlier on. An acceptable price has been agreed before, so we know roughly where we are?

Why can't it be done in a week?

[RadioactiveWaste]

1 minute ago, Needlesh said:

No, you're right of course.

However, the deal can't have too many murky corners and unknowns. Especially to guys who were in the running earlier on. An acceptable price has been agreed before, so we know roughly where we are?

Why can't it be done in a week?

My guess is no, but, someone is going to have to do something (££££) to convince the EFL we're going to be able to play the season out.

We're probably back to "non-refundable deposite" territory.

But I think that something probably will be done.

[CBX1985]

37 minutes ago, Hanny said:

I certainly am fine and happy with the next owner not being CK. But I still don’t see where he’s a bullshitter? A bit pompous maybe, but what rich egotist isn’t at least a wee bit arrogant. 
 

Every party connected (creditors/Admin/EFL/etc) signed off on CK, his money, and the contracts negotiated. ?‍♂️
 

So it seems to me the only way you could think he is a bullshitter or misrepresented himself in some fashion- is if you also believe in the fanciful conspiracies being floated and that every one of those other entities are incompetent too. Which seems a stretch to me. 

At the highest levels, fantasists and con-men operate in such a way that people who should know better know no better (I, shamefully, have been the one on the other end).  They sell you what you want to hear.  They make it so incredibly plausible.  The reason the Nigerian prince is shorthand is that it is obvious.  But Kirchner is CEO of a company with a fancy website, that does things with computers and logistics.  He hangs out with all the golfers.  He is credible.  Unlikely and you get the "where do you come from worry", but credible.

All of those organisations want either more money or DCFC to live on.  With no points deduction.  He didn't offer too much: he wasn't about to sign Messi.  But he'd keep Rooney, no points deduction; the creditors would be looked after.  He probably had an account with big numbers on it at First Manhattan, or some such Coutts-like US bank.

I don't blame people for being sucked in.  I think CK probably believed his own BS.

I think CK liked the idea of being in the spotlight.  But didn't really want the club.  Fantasists live the fantasy.  And time can seem elastic to them... until the time it all comes crashing down.    

[Gee SCREAMER !!]

49 minutes ago, Hanny said:

I certainly am fine and happy with the next owner not being CK. But I still don’t see where he’s a bullshitter? A bit pompous maybe, but what rich egotist isn’t at least a wee bit arrogant. 
 

Every party connected (creditors/Admin/EFL/etc) signed off on CK, his money, and the contracts negotiated. ?‍♂️
 

So it seems to me the only way you could think he is a bullshitter or misrepresented himself in some fashion- is if you also believe in the fanciful conspiracies being floated and that every one of those other entities are incompetent too. Which seems a stretch to me. 

I used to deal with administration.  The creditors are only interested in what they want as a base figure and rely on the administrators to get that or advise why.  They are reliant on them doing their job and what's being presented.  I don't think they've done it well and seem on the verge of desperation most of the time.  The EFL are vindictive rather than incompetent and are also getting a bit desperate as serious questions will be asked after the barriers put in the way from Sep- Feb if we do disappear . CK is a bull s******, as his monopoly money should have been here 3 weeks before he ran off to the golf course.

My take on the whole s*** show to this point.

[Ram1988]

1 hour ago, europia said:

It looks fairly certain that we will still be in administration by the time the new season begins. There isn't anywhere near enough time to get a deal done, even if Quantuma were a competent (they've proven otherwise) administrator. Our problem is going to be the likelihood of not being able to fulfil fixtures. Further penalties would follow. 

This is my concern. Will we be able renew contracts and sign some free agents/loan signings before the season starts? if not how can we field a competitive team?

[NottsRam77]

1 hour ago, Gee SCREAMER !! said:

Be honest with you, at the time -captain of Norwich who'd peed the league, 15 goals out wide and loads of assists, could also play midfield. I thought it was expensive but probably a decent signing.  The Derby City thing didn't help.  He was brilliant first 5 or 6 games but so were Gary Charles and Mark Pembridge.  Played pretty decent for Rowett as well.  Not sure how it works but he signed a new deal then left on a free that afternoon.  Very weird. 

I did …although i thought at the time 6m was helluva lot and for that money at the level we were at

He came to us as a left wide midfielder..  afterseeing play for half a season i realised wed been done.

im still trying to wander how the bejeus he did what he did at norwich from out wide cos for us in that position he was awful

he / we fashioned something from him in the central role but he was only ever 1 good game, one average game one mia 

 

[B4ev6is]

Look still time get this deal done and with trevor birch from efl standing there damn shoulders like someone else who ever get the money first gets the club.

And by the way we have 8 players on new contracts and still a chance festy could be staying as he been offered a new deal.

[DCFC1388]

I would hope Quantuma have the foresight to anticipate a takeover running into the season so have a loan in principle agreed with MSD or the so called well healed local businessmen so we can appease the EFL before the fixtures come out and start to sign some players within the season budget with no takeover done.

But it is Quantuma so I dont think they will even foresee that tomorrow is Thursday.

[Gee SCREAMER !!]

17 minutes ago, NottsRam77 said:

I did …although i thought at the time 6m was helluva lot and for that money at the level we were at

He came to us as a left wide midfielder..  afterseeing play for half a season i realised wed been done.

im still trying to wander how the bejeus he did what he did at norwich from out wide cos for us in that position he was awful

he / we fashioned something from him in the central role but he was only ever 1 good game, one average game one mia 

 

If I remember Hoolahan was playing with him at the time and he was very skilful where as Johnson was the aggression.  Sometimes it's who you link up with like Bryson and Martin. 

[ariotofmyown]

47 minutes ago, CBX1985 said:

At the highest levels, fantasists and con-men operate in such a way that people who should know better know no better (I, shamefully, have been the one on the other end). 

You still owe me 500 quid for that tartan paint you ordered.

[RadioactiveWaste]

6 minutes ago, ariotofmyown said:

You still owe me 500 quid for that tartan paint you ordered.

You'll get it in the end, he's been sent to the yard to get the long weight.

[kevinhectoring]

1 hour ago, CBX1985 said:

think CK liked the idea of being in the spotlight.  But didn't really want the club.  Fantasists live the fantasy.  And time can seem elastic to them... until the time it all comes crashing down.    

You’re suggesting he’s delusional. Perhaps. But I think there’s a chance it was exactly as Nixon said:  The money was transferred and for some reason he couldn’t clear AML. 
 

His investors may now have gagged him so we may never know 

[Phuket Ram]

2 hours ago, kevinhectoring said:

You’re suggesting he’s delusional. Perhaps. But I think there’s a chance it was exactly as Nixon said:  The money was transferred and for some reason he couldn’t clear AML. 
 

His investors may now have gagged him so we may never know 

Not a chance. Otherwise he's no doubt be under investigation in the US by now.

He never had the money. Never sent any money. Never paid any wages. AML is just a plausible excuse introduced by Nixon.

He obviously likes to hang out with famous and wealthy people, mainly sportsmen. At least he's probably got Rooney's mobile number out of it - although I doubt they'll be hanging out together.